Two electric vehicle (EV) battery-related projects in Quebec have hit a roadblock, with one put on hold and the other cancelled, as companies respond to a global slowdown in the EV industry.
The planned expansion of Ultium Cam’s EV battery materials facility in Bécancour, Que., has been put on hold, while a second plant planned by Vale Base Metals that was intended to supply nickel sulfate to Ultium Cam has been scrapped, as first reported by Radio-Canada.
The Ultium project, a joint venture between GM and the South Korean company POSCO to produce cathode active material used in EV batteries, was in its second phase. The first phase, at a cost of $600 million, is already under construction and expected to begin production next year. GM spokesperson Marie Binette said the decision to pause moving forward on the second phase was made “in light of evolving market dynamics.”…